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Main attributes

• A European Union country.
• Fast. Approval of citizenship application should be within six months.
• The only residence requirement is one visit every seven years.
• CYPRIOT citizenship carries the benefit of visa free access to around 160 countries, together with the opportunity to live, work and study in any of the 28 EU member countries.
• Parents qualify for citizenship provided they own a house valued at €500,000 + VAT or own a share of €500,000 in a residential property of the main applicant.
• Civil unions eligible to submit applications.
• Known to be very crime free and safe. Excellent education system, low taxes as well as first-rate health care. Greek and English speaking.

Applicants must:

• Possess a valid passport.
• Hold no criminal record.
• Not have the main applicant’s property “frozen” within the boundaries of the EU.
• Be a resident before they can be granted citizenship.
• Own a permanent private residence in the Republic of Cyprus with a purchase price of at least €500,000 plus applicable VAT.
• In the case of residential property investment the total investment amount must be €2 million with one property having a value of €500,000.

The Investment options are:

1. Real Estate, Land Development or Infrastructure Project where applicants may invest at least €2 million in the purchase or construction of buildings, land development projects (residential or commercial) or infrastructure projects.
2. Purchase, Creation or Participation in Cypriot Businesses or Companies where applicants may invest at least €2 million in the purchase, creation or participation in businesses or companies based and operating in the Republic of Cyprus. These businesses or companies must have a tangible presence in Cyprus and employ at least five Cypriot citizens or European citizens.
3. Investment in Financial Assets of Cypriot Companies or Organizations where applicants may invest at least €2 million in the financial assets of Cypriot companies or Cypriot organizations. This includes bonds, securities and debentures registered and issued in the Republic of Cyprus. Investors must maintain the purchased assets for a period of three years.
4. Combination Investment where applicants may invest in a combination of the above options. The combination of investments must total at least €2 million.

For detailed information on the advantages and disadvantages of the citizenship schemes available in Cyprus and the application process and requirements, please contact us.